Green Venture Capital (GVC), a subsidiary of Wawasan Qi Properties Group (WQIP) marked the commencement of the RM 1.2 billion QI City development with a ground-breaking ceremony at the project’s development site in Bandar Meru Raya, Ipoh recently.
Spread across 26 acres, the QI City project is a mixed residential and commercial edu-city development and the first of its kind fully integrated education hub in the country. Nestled in a township fast becoming known as “The New Heartbeat of Ipoh”, the Qi City development is set to be a catalyst that will boost the state’s appeal as an investment destination of choice. Adding to that, it will also be contributing RM1.2 billion to the state’s Gross Domestic Product (GDP).
The development which is expected to be completed in three years, will comprise the Quest International University Perak (QIUP) campus, an 840 bedded teaching hospital, three condominium blocks with a total of 768 units, retail outlets, a convention centre to cater for up to 1,500 people and 460 units of hotel suites.
The ceremony was officiated by the Menteri Besar of Perak, Y.A.B. Dato’ Seri DiRaja Dr. Zambry bin Abdul Kadir, Executive Chairman of Qi Group, Dato’ Sri Vijay Eswaran, the Chairman of GVC Tan Sri Megat Najmuddin Megat Khas, GVC Chief Executive Officer Chandragesan Suppiah and Chairman of the Board of China Energy Hua Ren Industrial Investment Co Ltd (CEHR), Mr. Wang Wei.
QIUP’s senior management team of Dato’ Prof. Raman Narayanasamy, Vice Chancellor, Mr. Nicholas Goh, Chief Operating Officer and others were also present at this historic ceremony.
China Energy Hua Ren Industrial Investment Co Ltd is a China based entity that will be leading the construction of this mixed development project.
Executive Chairman of Qi Group Dato’ Sri Vijay Eswaran said: “We are honoured to be partners with the State Government in not only growing its vision for the state of Perak but being able through this project to have a transformative impact on the economy of this state.
“The Qi City development will not only be a catalyst for further economic growth of Ipoh but I also believe that the education and health facilities we will offer will become a bridge for Malaysia to bring ASEAN countries closer together. It presents us with the right opportunities to create conducive business environments to facilitate dialogue between countries and capture the enabling conditions of economic and social development to include a deliberate and actionable focus on inclusive economic growth both for the state and for the nation,” said Datuk Sri Vijay.
Menteri Besar of Perak Y.A.B Dato’ Seri Dr Zambry, said the state government is welcoming of such projects as it is in line with realizing the state’s five-year vision.
“The Northern Corridor is poised for tremendous growth and projects such as the Qi City development are key enablers in providing job opportunities as well as encouraging the transfer of skills and expertise. The state office has been involved from the very beginning and have worked closely with the developers in setting the fundamentals for this mixed development. We constantly assess, review and identify the right partners to collaborate with to ensure they fit within our growth agenda. Projects such as this one is directly aligned to the State’s aspiration of driving domestic economy and developing Perak into a global hub,” he said.